Soltoro Ltd. (TSX VENTURE:SOL) ("Soltoro" or the "Company") has closed the
previously announced non-brokered private placement offering (the "Financing")
of 4,500,000 common shares of Soltoro at $1.00 per share for aggregate gross
proceeds of $4,500,000 with Coeur d'Alene Mines Corporation (NYSE:CDE)(TSX:CDM)
("Coeur d'Alene"). As part of the Financing, Coeur d'Alene has been granted a
first right of refusal to maintain its current proportionate interest in Soltoro
by participating in each of the next two financings undertaken by Soltoro. In
addition, Coeur d'Alene has agreed to a standstill, whereby it will not purchase
any shares of Soltoro that would result in Coeur d'Alene, together with any
affiliates, holding over 9.9% of the issued and outstanding shares of Soltoro,
except in accordance with a take-over bid for 100% of the issued and outstanding
shares of Soltoro. Upon completion of the Financing, Coeur d'Alene held
approximately 8.2% of the issued and outstanding shares of Soltoro.


The proceeds of the Financing will be used for the continued exploration and
advancement of Soltoro's El Rayo Silver Project in Mexico and for general
corporate purposes. 


The common shares issued pursuant to the Financing will all be subject to a
four-month regulatory hold period from the date of closing. The Financing is
subject to TSX Venture Exchange acceptance of requisite regulatory filings. 


About Soltoro:

Soltoro is engaged in exploration for bulk tonnage gold and silver deposits in
Mexico. The Company has two diamond drills operating at the El Rayo silver
project with the objective of expanding the existing NI 43-101 silver resource.
An orientation drill program is also being carried out at the Chinipas project
in the State of Chihuahua to investigate the potential for a bulk mineable gold
deposit. Soltoro has optioned a portion of its Quila claim to Timmins Gold Corp.
and optioned its Victoria and Coyote claims to Argentum Silver Corp. The Company
continues to actively advance its La Tortuga, El Santuario and Pena Grande
projects. Soltoro has 54,719,482 shares outstanding (after closing this
financing) and trades on the TSX Venture Exchange under the symbol SOL.